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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Apr 22, 1977
Page
6
The 2 p.m. NYSE quotations show Dow Jones Industrial average at about 928.26, down 7.54 points, with Trans and Utilities lower as market activity lists numerous securities with varied declines and gains. The compiled price sheet highlights notable movements across many named firms amid a broad market downturn.
AP analysis argues President Carter's energy conservation push could spark invention and new businesses. Edison framed invention as purposeful, not accidental, and the drive to resolve energy shortages may spur new power sources, building designs, insulation, and transportation efficiency through mobilized creativity.
Boorstin notes Edison built an organized invention business at Menlo Park and created the light bulb era. He argues modern R&D labs boost speed, scale, and resilience, funding wartime and peacetime innovation, shaping a new economy and a moral equivalent of war.
The Camelback Inn hosted a 50th anniversary celebration for Marriott Corp on a Thursday afternoon. J W Marriott Sr helped serve free root beer as guests toured a replica of the original Hot Shoppe, recalling Marriott’s 1927 Washington DC root beer stand origin. Marriott had acquired Camelback Inn ten years earlier from the Jack Stewart family.
The New York stock market fell in a broad downturn amid energy concerns and a wary stance on interest rates. The Dow at 2 p.m. stood down 7.54 points to 928.26 after Thursday's 6.79 decline as losers outpaced gainers by about five to two. Volume reached 13.98 million shares with analysts citing possible congressional action on President Carter's energy proposals as a key factor.
London gold trades at 149.75 on the close with gains. May coffee up 13 points at 3.03. cocoa down 2 points to 1.78. Gold futures rise to 150.20 for June. silver slips to 48.32 with 14 cent drop. May wheat and corn fall, soybeans rise to 10.60, meal up 5.30, oil up 47. Cattle and hogs decline, pork bellies down 1.73, cotton at 76.25. Market not closed.
The Northern Trust Company of Arizona promotes prudent management of clients assets with local officers available in Phoenix to tailor portfolios. Services include record keeping securities trading investment management and trust administration from offices at 44th and Camelback. The Chicago partner oversees over 9 billion in trust assets and a free copy of the Living Trust brochure is offered via Robert A Williams Jr President.
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